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Trump’s trade adviser says Australia is waging a ‘frontal assault’ on US aluminium markets. What’s really going on?
- Donald Trump’s trade adviser criticized Australia’s manufacturing industry, accusing them of waging 'frontal assaults' on the US aluminium market.
- Peter Navarro's comments may affect Canberra's bid for exemption from US steel and aluminium tariffs.
- Navarro claimed Australia and Canada were major threats to US aluminium markets, with Australia's 'heavily subsidized smelters' giving them an unfair advantage.
- However, despite the accusation, Australia's aluminium exports to the US accounted for less than 3% of the total.
- Navarro's claim about Australian smelters being heavily subsidized refers to the government initiatives to support smelters in transitioning to renewable energy.
- Australia's ties to China and the global aluminium trade were also mentioned, but no evidence was presented to support the distortion claim.
- There was a voluntary agreement between Australia and the US to limit aluminium exports, but it changed due to geopolitical events like the war in Ukraine.
- After the agreement, Australia's aluminium exports to the US fluctuated, with an increase in 2022-2023 and a decrease in 2024.
- Australia's position as an aluminium exporter to the US shifted due to changing demands and geopolitical factors.
- The intricacies of the US-Australia aluminium trade relationship raise questions about agreements, tariffs, and industry dynamics.
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